RalphBenjaminTrading

RalphBenjaminTrading Updated 

Hello dear traders! Overall, Gold prices traded stronger during the day. The bullish outlook for the precious metal remains intact, as XAU/USD is above the key line (EMA) on the daily chart. In the short term, gold prices have remained confined within the down trend channel since mid-April, suggesting that further consolidation or a sharp decline as I mentioned...

RalphBenjaminTrading

Hello dear traders! Looking back at yesterday's trading session, gold has demonstrated its strength continuously after a series of 5 weeks of recovery, but in general, investor psychology still maintains optimism towards precious metals. The technical chart shows gold exiting the downtrend, which is an impressive move by the bulls as they not only successfully...

RalphBenjaminTrading Updated 

Hello all dear traders! On the news impact : EUR/USD continued to rise on Thursday as the prevailing positive sentiment in the markets brought support to risk-sensitive currencies such as the Euro. This improved risk appetite can be attributed to dovish comments from Federal Reserve Chairman Jerome Powell on Wednesday. It is currently trading at 1.0717, but...

RalphBenjaminTrading Updated 

Hello all dear traders! Currently, gold price is fluctuating around 2301 USD unchanged compared to yesterday's trading session, continuing to stabilize its strength above 2300 USD. In general, in the short term, the fact that the US Federal Reserve (FED) has not lowered interest rates will reinforce the appreciation of the USD, thereby causing gold to more or...

RalphBenjaminTrading Updated 

Hello everyone, let's discuss our strategy for the day! Overall, EURUSD experienced a significant rally yesterday with the price rising above the 1.0728 level. In terms of influencing factors: The US dollar faced an intense sell-off as the US Bureau of Labor Statistics (BLS) reported that labor demand remained weak and wage growth slowed in April . The US Dollar...

RalphBenjaminTrading Updated 

Hello wonderful friends! As can be seen on almost every timeframe EURUSD continues to show significant gains, with price gains surpassing the 1.0700 level as highlighted on the chart. At the same time a cup of handle is forming which increases the possibility of breaking the resistance and taking a distribution. In the current scenario and trend, the possibility...

RalphBenjaminTrading Updated 

Hello all dear traders! Gold prices struggle to gain any meaningful traction and trade within a tight channel near $2,300. The Fed is less hawkish outlook dragged the USD to a multi-week low and supported XAU/USD ahead of key US NFP data. In the current context, the possibility of price increase is possible but it is unlikely to last long as it approaches the...

RalphBenjaminTrading Updated 

Good day, great friends of Ralph Benjamin. Let's discuss and strategies today! Regarding impact news : Gold prices do not attract buyers in the context of high US bond interest rates and a modest increase in the USD. Positive risk sentiment also helped limit price gains in the safe-haven precious metal. However, traders may want to wait for the US NFP report...

RalphBenjaminTrading Updated 

Hello wonderful friends of Ralph Benjamin! What do you think about this metal's next trend? In general, gold continues to maintain a relatively stable downward trend at low levels. The current decline poses near-term risks, which could be exacerbated if strong US economic data leads to further delays in the Fed's expected interest rate cuts. That said,...

RalphBenjaminTrading Updated 

Dear friends! Overall, GBPUSD may continue its medium-term uptrend supported by the sharp decline in the US Dollar after the US Federal Reserve kept interest rates unchanged. On H4, the pair is in consolidation at high levels with strong support around the 1.2518 breakout level. The resistance zone at 1.2570 continues to hold the price, but amid accumulation and...

RalphBenjaminTrading Updated 

Hi everybody! Recently, gold continues to maintain positive growth momentum in maintaining the 2300 USD level. Gold's rally is driven by many fundamental factors, including after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could reduce borrowing costs. It is expected that in the coming time, the uptrend will...

RalphBenjaminTrading Updated 

Dear friends! These are RalphBenjamin's insights about the market at this time, let's discuss! On the weekly timeframe, the uptrend remains positive allowing long-term speculators to continue holding their positions. However, the resistance level at 2,400 USD continued to hold last week mainly because the demand for safe haven due to concerns about escalating...

RalphBenjaminTrading Updated 

Hello friends! XAUUSD is forming a sideways range during the recovery phase with a corrective bias, receiving support from the $2290 level. It is currently trading around $2,325, marking a 0.43% gain on the day. Regarding impact news: The US Dollar (USD) encountered new supply and fluctuated near its lowest level in more than a week. This, coupled with a slight...

RalphBenjaminTrading Updated 

Ralph Benjamin greets everyone! Currently, the price of gold is struggling to attract any meaningful buyers in the context of purchasing new USD. Betting that the Fed will maintain higher interest rates for a longer period of time in the face of challenging inflation will help revive the demand for USD, thereby allowing short sellers to expect some selling waves...

RalphBenjaminTrading Updated 

Greetings, marvelous companions! The EUR/USD currency pair sustained its upward trajectory, following a positive closure on Thursday and reaching its highest point since April 11 at approximately 1.0750. While the short-term technical analysis indicates potential overbought conditions, the improving sentiment towards risk may assist in propelling the pair higher...

RalphBenjaminTrading Updated 

Overall, the downtrend of GBPUSD continues mainly due to the strengthening of the British pound amid a weakening dollar index. On H4, the price is approaching a strong breakout resistance zone. This zone has many confirmations, showing that this zone is very important for traders. The correction may end at the nearest strong level and there is a high possibility...

RalphBenjaminTrading Updated 

Hello wonderful friends! Overall, EURUSD experienced significant volatility yesterday, with price gains surpassing the 1.0700 level. It is currently trading at a new high of 1.0720, highlighting a 0.2% gain on the day. So do you wonder why this currency increased so strongly? On the move: EUR/USD clings to gains near 1.0700 early in the European session on...

RalphBenjaminTrading Updated 

Hello dear friends! XAUUSD continues its corrective trend. Previously, I warned about the approaching decline. Gold is shedding buyers and appears to be heading towards finding a medium-term bottom. From a technical perspective: The first point of resistance is seen at the previous day's high of $2,334, above which the psychological level of $2,350 will be...